Korea's poetic way to authenticate test-takers for college entry exam SEOUL, November 13 (AJP) - Poet Ahn Gyu-rye may not be widely known, but to the half million South Korean youths who sat for Thursday’s once-a-year college entrance exam Suneung, the line “Youth, like waves of springing green” from poem Morning Walk will likely remain etched as a final memory of the day. Suneung is a cruel make-or-break ritual that can shape a student’s entire adult trajectory in Korea, a society long obsessed with a handful of elite universities. It is a day of excruciating tension not only for test-takers but also for their parents, as even a single slip can upend years of effort. To stay composed, Koreans have developed an array of personal and collective rituals. Among them, the so-called handwriting verification phrase stands out as a uniquely Korean Suneung invention—born both to prevent foul play at test sites and to serve as a last-resort safeguard in identifying test-takers. The phrase appears on each of the five typical test sets administered throughout the day, and every test-taker must write it by hand on their answer sheet. The line is chosen with care: it must support the design of handwriting authentication and leave a lasting emotional impression on students facing one of the most consequential tests of their lives. For the 2025 Suneung, the phrase was: “Unfurl your grand dreams upon the boundless world.” It comes from a work by poet Gwak Ui-young, a late-blooming Daegu poet whose 2023 debut collection Launching a Boat at Sunset includes the poem Only One Beautiful Daughter. The tradition dates back to 2006, introduced after widespread cheating scandals in the 2005 exam. The first handwriting phrase quoted one of Korea’s most revered poets, Yun Dong-ju, whose line “May I have no shame when I look up at the sky” from his poem Prologue evokes moral integrity under colonial oppression. The most frequently selected poem has been Nostalgia by Jeong Ji-yong, used three times. Jeong is known for articulating early modern Korean experience in refined, sensory language, noted Professor Cho Kang-sok of Yonsei University’s Department of Korean Language and Literature. The phrases are chosen by exam committees under strict criteria: they must span 12–19 Korean characters, include at least two distinctive consonants such as ㄹ, ㅁ, ㅂ, and feature at least one double consonant, all to ensure clear handwriting authentication. At the same time, they must deliver messages of hope and encouragement—words meant to steady the hand, soothe the mind, and perhaps bring a measure of luck to the young Koreans facing their critical day. 2025-11-13 17:18:21

Sanguine KOSPI signals bumper IPO year in 2026 SEOUL, November 13 (AJP) - Rejuvenated stock markets, abundant liquidity from monetary easing, and renewed corporate confidence fueled by strong exports are setting the stage for a bumper year for South Korean initial public offerings in 2026. Among the most closely watched are K Bank — which has already filed its preliminary prospectus and is awaiting approval — as well as beauty-and-fashion leaders CJ Olive Young, Musinsa, and Gudai Global, the rising Korean retail brands with expanding global footprints. Their listings have been discussed for years but were repeatedly pushed back during the prolonged market slump. With the KOSPI on track for its best-ever performance and investment banks projecting next year’s index range anywhere between 4,500 and 7,500, sentiment has turned decisively optimistic. Musinsa and Gudai Global are expected to be the biggest attractions, with valuations that could approach 10 trillion won ($6.8 billion). Musinsa has confirmed its IPO intent and is expected to select a lead underwriter within the year, though final approval is still pending. The fashion platform aims to use IPO proceeds to accelerate global expansion, a strategy reiterated by CEO Park Jun-mo. Gudai, which joined the 1-trillion-won sales club last year, expects the time is ripe, with revenue estimated to top 1.7 trillion won this year on strong U.S. sales through Amazon. Musinsa has been strengthening its presence in Japan by appointing Mike Ikeda, former CEO of Dr. Martens Japan, to lead its local unit. Its platform now introduces more than 3,000 brands to Japanese consumers, with Japan sales surging 120 percent on-year in the third quarter. CJ Olive Young, a dominant K-beauty retailer with a strong brick-and-mortar network, is also seen as a prime IPO candidate, though company officials declined to confirm a near-term plan. Olive Young maintained robust offline traffic even during the pandemic thanks to product trials that have proven especially attractive to foreign tourists. It has recently ramped up online sales to expand its customer base. Despite mounting price competition from low-cost chains such as Daiso, Olive Young is still expected to benefit from the global wave of interest in Korean beauty over the next three to five years, according to Kim Ju-duck, dean of the Graduate School of Convergence Beauty at Sungshin Women’s University. Other potential IPO standouts include AI startup Upstage — targeting a valuation above 2 trillion won on the strength of its Large Language Model technology — and medical device firm Reves Med, which has passed its listing review and plans to go public next month. LS Group affiliate Essex Solutions is also undergoing preliminary KOSPI review. Both Upstage and Reves Med are considered unicorns with valuations exceeding 1 trillion won. This year’s IPO market contracted sharply, with total fundraising reaching just 3 trillion won in the first half, far below the 20 trillion won annually recorded during the 2021–2022 boom. But with the KOSPI up more than 70 percent year-to-date, retail deposits earmarked for stock investment have ballooned to 85 trillion won. Recent IPOs have also priced at the top of their indicative ranges, signaling strong investor appetite. Government initiatives to invigorate the capital market — including lower taxes on dividend income and expanded venture capital supply — further strengthen the environment for new listings. A senior asset management official noted that the administration’s commitment to boosting the market is likely to draw both fresh issuers and eager investors back into the IPO pipeline. 2025-11-13 15:54:23

Asian markets hardly move on Suneung Day, awaiting end of U.S. shutdown SEOUL, November 13 (AJP) - Asian markets were largely unmoved on Thursday as investors waited for confirmation of an end to the U.S. government shutdown. In Seoul, the KOSPI and KOSDAQ inched up to 4,153.35 and 911.88, respectively, as of 11:20 a.m. The market opened at 10:00 a.m.—one hour later than usual—due to the nationwide Suneung college entrance exam. The Korean won weakened further, with the dollar gaining 4.60 won to hit a new annual high of 1,474.1 won despite fresh verbal intervention from authorities. Large-cap stocks traded narrowly, with none among the top 10 names moving beyond a 1-percent range. Samsung Electronics rose 0.9 percent to 104,000 won ($71), while SK hynix gained 0.5 percent to 620,000 won. LG Energy Solution slipped 0.2 percent to 474,500 won, and Hyundai Motor eased 0.2 percent to 275,000 won. Entertainment agency HYBE surged 5.3 percent to 306,500 won following reports that all five members of NewJeans, under its subsidiary label ADOR, would return to the company. Meritz Securities raised its target price for HYBE to 380,000 won from 370,000 won, citing projected profit contributions of 6–7 billion won ($4.1–4.8 million) next year from NewJeans’ resumed activities and as much as 20–30 billion won annually from 2027. HYBE, valued at around 13 trillion won, manages top K-pop acts including BTS, SEVENTEEN, TOMORROW X TOGETHER, ENHYPEN, LE SSERAFIM, and ILLIT. On the KOSDAQ, ABL Bio soared 27.3 percent to 161,300 won after announcing a $2.6 billion technology transfer deal with U.S. pharma giant Eli Lilly for its Grabody-B bispecific antibody platform. Japan’s Nikkei 225 rose 0.5 percent to 51,336.57, supported by modest gains among automakers. Toyota and Honda each added 0.3 percent, Nissan rose 0.9 percent, while Sony climbed 1.3 percent. Fast Retailing fell 1 percent, and SoftBank extended declines with a 3.4 percent drop. In China, the Shanghai Composite slipped 0.1 percent to 3,995.66, while Hong Kong’s Hang Seng Index fell 0.3 percent to 26,844.56 amid continued caution across regional markets. 2025-11-13 11:33:28

Asian stocks mixed early Wed amid conflicting US factors, USD/KRW near 1,470 SEOUL, November 12 (AJP) - Asian stocks were mixed in early Wednesday trading as investors sidelined for a breakthrough in the U.S. fiscal standoff. In Seoul, the KOSPI swung the positive and negative before settling 0.6 percent higher at 4,133.36 by midday. The KOSDAQ rose 1.8 percent to reclaim the 900 level. Foreign investors continued to sell, pushing the Korean won down to near 1,470 per U.S. dollar. Analysts cited conflicting forces — hopes for a U.S. fiscal settlement and lingering pressure from the overnight drop in major American tech stocks — as key drivers of the early volatility. Among heavyweights, Samsung Electronics fell 1.6 percent to 101,800 won ($69), and SK hynix declined 2.8 percent to 602,000 won, following losses in U.S. chip and AI shares. The Philadelphia Semiconductor Index slid 2.5 percent. The Nasdaq Composite dipped 0.3 percent to 23,468.30, while the Dow Jones Industrial Average and S&P 500 gained 1.2 percent and 0.2 percent, respectively. NVIDIA sank 3 percent after reports that SoftBank Group had sold its entire stake, reviving concerns about an “AI bubble” and stretched valuations. Sentiment toward chipmakers remains divided. Worries about overinvestment continue to fuel bubble fears, even as strong earnings expectations attract buyers. Bloomberg estimates U.S. tech giants will spend roughly $320 billion this year on AI infrastructure, more than double the $151 billion invested in 2023, with the figure projected to exceed $1 trillion by 2031. Venture capital funding for AI startups surpassed $100 billion last year, hitting a record high. Morgan Stanley maintained an upbeat view on Korean memory shares, recently raising its price targets for Samsung Electronics to 175,000 won and SK hynix to 850,000 won, citing solid AI-driven memory demand. Automakers and defense names outperformed. Hyundai Motor rose 2.2 percent to 275,000 won, and Hanwha Aerospace gained 2.3 percent to 970,000 won. NCSoft jumped 6.3 percent to 244,000 won on enthusiasm for its upcoming Aion 2 title. Hana Securities lifted its target price by 15.4 percent to 300,000 won, citing strong earnings leverage. Analyst Lee Jun-ho said Aion 2 is “well-positioned to deliver explosive profit growth upon success,” noting NCSoft plans additional launches through 2026, including Limit Zero Breakers, Time Takers and Cinder City. In Japan, the Nikkei 225 edged up 0.03 percent to 50,857.50 as markets digested SoftBank’s unexpected NVIDIA divestment. SoftBank Group shares tumbled 4.8 percent to 21,600 yen ($140) after confirming it sold all 32.1 million NVIDIA shares last month for $5.83 billion. CFO Kazuhiko Fujihara said the sale was not driven by doubts about NVIDIA but to reallocate capital into new AI investments. Founder Masayoshi Son — who had previously lamented missing out on $150 billion in gains after an earlier NVIDIA exit — now faces fresh scrutiny over group strategy. SoftBank’s market cap, which had tripled by late October during the AI boom, has fallen more than 20 percent in the past week. At its peak on Oct. 29, SoftBank’s valuation reached ¥40.15 trillion ($260bn), narrowing the gap with Toyota to less than ¥10 trillion. Excluding SoftBank, most Japanese blue chips advanced. Toyota rose 1.8 percent to 3,203 yen, Honda climbed 2.3 percent to 1,559 yen, Sony gained 3.1 percent to 4,662 yen, and Fast Retailing edged up 0.2 percent to 58,760 yen. In China, the Shanghai Composite Index added 0.2 percent to 4,010.88, while Hong Kong’s Hang Seng Index rose 0.7 percent to 26,878.97. 2025-11-12 12:14:45

K Bank readies third and possibly final KOSPI bid, betting on sustained market rally SEOUL, November 11 (AJP) - K Bank may become the first company to debut on the KOSPI in 2026 as the country’s pioneering internet-only bank files its third — and likely final — preliminary prospectus, hoping the market’s bullish momentum lasts another two to three months. According to the filing, K Bank plans to offer 60 million shares out of its 405.7 million total. The Korea Exchange’s review normally takes two to three months, putting an early-2026 listing within reach if approval is granted. NH Investment & Securities and Samsung Securities are joint lead managers. The clock is ticking. Under agreements with its financial investors (FIs), K Bank must go public by July 2026. Failure to do so would allow investors to exercise tag-along or put options by October next year, making this effectively its last window to complete the deal. K Bank previously cleared the preliminary review in 2022 but canceled its offering in the face of rapidly rising interest rates and a frozen IPO market. A second attempt in late 2023 was also withdrawn after weak demand during roadshows. The bank has since trimmed its target valuation to 5.3 trillion won ($3.6 billion) from roughly 7 trillion won. Whether the current year-end rally will be enough to support a newcomer remains uncertain. The bank’s repeated last-minute withdrawals have already dented its credibility among investors. Another lingering risk is its deep dependence on deposits sourced from customers of Upbit, the country’s largest cryptocurrency exchange. The two companies recently renewed their real-name account partnership for one more year, through October 2026, after the contract expired last month. The Upbit-linked deposits have been a major growth driver, as K Bank supplies verified accounts to crypto traders. But renewal uncertainty hangs over the bank each time the contract comes due. Meanwhile, the bank’s early-mover advantage has largely faded as traditional lenders now operate fully competitive mobile platforms. Market sentiment toward digital-only banks has also cooled. KakaoBank shares have dropped 44.5 percent from their June 24 peak of 38,750 won to 21,500 won ($14.7) as of Tuesday. Last week, Hana Securities cut its price target for KakaoBank to 32,000 won from 36,000 won, pointing to weaker-than-expected third-quarter earnings and slowing fee income. KakaoBank’s net profit fell 10.3 percent on-year to 111.4 billion won. Hana Securities analyst Choi Jung-wook said sluggish loan growth, a broader decline in net interest margin and disappointing non-interest income weighed on performance, while operating expenses climbed with new service promotions and AI-related hiring. “Despite steady product launches such as its MMF Box and Kids Savings offerings, monetization remains slower than expected,” Choi wrote. As it weighs its KOSPI push, K Bank has also been expanding its offline footprint. Starting in December, Seoul Metro’s Euljiro 4-ga Station — near the bank’s headquarters — will adopt “K Bank Station” as a secondary name under a paid naming-rights deal effective through December 2028. 2025-11-11 17:39:05

KOSPI and Nikkei remain bellwethers in Asia, recharged by U.S. market easing SEOUL, November 11 (AJP) - Korean and Japanese equities extended their coupled strength on Tuesday, lifted by easing concerns over the U.S. government shutdown and renewed confidence that recent warnings over an AI bubble may have been overstated. South Korea’s benchmark KOSPI climbed as much as 2.6 percent to 4,179.51 in early trading, while the tech-heavy KOSDAQ rose 1 percent to 897.31. Large-cap shares led the advance: Samsung Electronics gained 3.8 percent to 104,400 won ($71), SK hynix added nearly 4 percent to 629,000 won, Hyundai Motor rose 1.1 percent to 273,500 won, LG Energy Solution jumped 4.9 percent to 488,250 won, HD Hyundai Heavy Industries increased 1.7 percent to 547,000 won, and Naver climbed 3.5 percent to 269,000 won. SK Square surged 11 percent to 322,000 won, breaking into the 300,000-won range for the first time. NH Investment & Securities raised its target price to 350,000 won from 165,000 won, citing a sharp increase in the company’s net asset value driven by the rally in its chipmaking affiliate. “With SK hynix accounting for the largest share of NAV, the steep rise in its stock price is driving SK Square’s rally,” said Ahn Jae-min, an analyst at NH Investment & Securities. Doosan Corp. jumped 12.5 percent to 1,056,000 won amid expectations of record fourth-quarter earnings. Eugene Investment & Securities analyst Lee Joo-hyung projected that Doosan’s electronics business will post fourth-quarter revenue of 549.9 billion won ($376 million), up 64 percent on year, and operating profit of 165.2 billion won, up 269 percent, supported by stable output of its GB300 rack servers and higher weekly production of its GB200 servers. U.S. stocks closed higher Monday on optimism that Washington was moving toward reopening the federal government after the prolonged budget standoff. The Dow Jones Industrial Average rose 0.8 percent to 47,368.63, the S&P 500 climbed 1.5 percent to 6,832.43, and the Nasdaq Composite advanced 2.3 percent to 23,527.17. Japan’s Nikkei 225 gained 0.8 percent to 51,326.60, with most blue-chip names extending gains. Toyota Motor edged up 1 percent to 3,163 yen ($20.5), Fast Retailing rose 2 percent to 59,400 yen, and SoftBank Group surged 5.4 percent to 23,455 yen. Strong foreign inflows remain the backbone of Japan’s rally, supported by the revival of the yen carry trade—borrowing in near-zero-yielding yen to chase higher returns abroad. Goldman Sachs said Monday that U.S. capital inflows into Japan have accelerated to the fastest pace since the height of Abenomics. “U.S. investor participation in the Japanese equity market is at its highest since October 2022,” said Bruce Kirk, chief strategist at Goldman Sachs. Analysts cite Prime Minister Sanae Takaichi’s stimulus measures and the yen’s depreciation as key tailwinds. While the S&P 500 is up about 14 percent this year, the Nikkei has surged roughly 30 percent. Goldman Sachs noted that U.S. buyers have concentrated on Japanese technology and AI-related stocks. According to Japan Exchange Group data, foreign investors purchased a net 284 billion yen ($1.8 billion) of Japanese equities—spot and futures combined—over the final two weeks of last month. Kirk said global allocations to Japanese equities “remain low, suggesting further room for inflows,” while cautioning that “after the recent sharp rally, a period of consolidation could follow.” Elsewhere in the region, China’s Shanghai Composite Index slipped 0.01 percent to 4,018.36, while Hong Kong’s Hang Seng Index rose 0.3 percent to 26,722.73. 2025-11-11 11:19:41

Rose's nod by Grammys fails to persuade investors of her Korean label YG SEOUL, November 10 (AJP) - BLACKPINK member Rose is leading a wave of female K-pop artists heading into the 2026 Grammy Awards — an unprecedented moment for Korean pop music — but the historic nominations has so far failed to lift investor sentiment toward her label. Shares of YG Entertainment tumbled more than 7 percent to 66,650 won ($46) on Monday, the first trading day after the Recording Academy shortlisted Rose’s “APT.” featuring Bruno Mars for Record of the Year, Song of the Year and Best Pop Duo/Group Performance. Despite the headline-making nominations, IBK Investment & Securities cut its target price on YG to 100,000 won from 120,000 won, citing weakness in third-quarter earnings. Operating profit surged 272 percent on year to 31.1 billion won ($21 million), but still fell short of the market consensus of 34 billion won. The brokerage trimmed its 2025 and 2026 operating profit estimates by 17 percent and 12 percent, respectively, while maintaining a buy rating. YG Entertainment shares have been sliding sharply in recent weeks after peaking at 109,800 won ($75) on August 21. The rally earlier in the summer was fueled by the breakout success of the Netflix animated film K-Pop Demon Hunters — whose production roster included YG-linked creators — and optimism over a potential easing of Beijing’s unofficial ban on K-pop. Released on June 20, K-Pop Demon Hunters became an unexpected global hit and set new viewership records. Its original soundtrack, led by the single “Golden,” topped the Billboard Hot 100 on August 11, marking a major milestone for K-pop. The track was produced by The Black Label’s Teddy and 24, alongside U.S. collaborator Lijae. The OST album, distributed by Republic Records, is officially classified under the K-pop genre on the label’s website. Other producers at The Black Label — 24, Kush, and Vince — contributed additional songs including “Soda Pop” and “Your Idol.” Investor sentiment toward YG also strengthened in early July when BLACKPINK made a full-group comeback for the first time in 22 months. The quartet opened their “Deadline” world tour with two shows at Goyang Stadium on July 5–6, drawing a total of 78,000 attendees. By late August, the group had sold out major venues in Los Angeles, Chicago, Toronto, New York, Paris, Milan, Barcelona and London, with only the Asian leg remaining. YG did not debut any new acts this year, but its affiliate label The Black Label enjoyed momentum with its rookie group All Day Project. The group debuted on June 23, rose to No. 1 on Melon’s Top 100 chart within three days, and entered the Billboard Global 200 eight days after debut. Despite these successes, YG’s momentum weakened amid questions over its long-term management strategy and concerns about the cooling of the short-term K-pop hype cycle. Founded in 1998 by former Seo Taiji and Boys member Yang Hyun-suk, YG is one of Korea’s “big four” entertainment companies and home to BIGBANG, BLACKPINK and BABYMONSTER. The company also holds a 14.55 percent stake in The Black Label, which manages rising groups MEOVV, izna and All Day Project. Analysts say YG’s outlook remains dependent on its flagship artists and the possibility of China easing restrictions on Korean entertainment. “BLACKPINK continues to anchor profitability, while BABYMONSTER and BIGBANG’s 20th anniversary comeback could support growth next year,” said Kim Hyun-yong at Hyundai Motor Securities. The brokerage expects BABYMONSTER to launch large-scale tours in the West and Japan, while BIGBANG is confirmed to headline Coachella in April 2026. Hana Securities analyst Lee Kihoon said the K-pop sector could see record earnings next year if both BIGBANG and BTS resume full-group activities. “If that happens, it would mark an unprecedented performance year for the entire industry,” he said. Yang Hyun-suk remains YG’s largest shareholder with a 19.3 percent stake, followed by Naver at 8.9 percent, the National Pension Service at 7.2 percent, and China’s Tencent at 4.3 percent. Despite Monday’s sharp decline, NH Investment’s Lee Hwa-jung maintained that YG’s fundamentals remain intact, predicting that structural growth and overseas reopening will support a recovery. 2025-11-10 17:36:43

KOSPI bounces back above 4,000 to lead Asian markets early Monday SEOUL, November 10 (AJP) - South Korea’s stock market rebounded sharply on Monday as foreign investors returned on signs of a breakthrough in the U.S. government shutdown. KOSPI jumped 2.8 percent, reclaiming the 4,000 mark, while the tech-heavy KOSDAQ edged up a mere 0.5 percent to hover below 900. The early rally was driven by strong buying from foreign and institutional investors. Foreigners — who dumped more than 7 trillion won ($4.8 billion) worth of Korean shares last week — turned net buyers of 120.4 billion won in the main market. Institutions also net-purchased 216.9 billion won. Among blue chips, Samsung Electronics rose 1.6 percent to 99,500 won ($68), while SK hynix climbed 4.1 percent to 603,500 won. Financial stocks continued their strong run. KB Financial gained 4.4 percent to 129,100 won, BNK Financial Group added 3.5 percent to 15,210 won, Shinhan Financial Group rose 2.7 percent to 79,500 won, and iM Financial Group advanced 4.7 percent to 14,160 won. According to Hana Securities, bank stocks climbed 5 percent last week, sharply outperforming the KOSPI’s return of –3.7 percent. The sector’s momentum has been fueled by expectations of dividend tax cuts and rising government bond yields. The government and the ruling Democratic Party are reportedly fast-tracking a plan to lower the top rate on separately taxed dividend income from 35 percent to 25 percent, a move analysts say could shift investment away from real estate and toward dividend-paying equities. Investor sentiment also improved on optimism that the U.S. federal government shutdown may soon be resolved. On Friday, Wall Street ended mixed, with the Dow up 0.2 percent, the S&P 500 up 0.1 percent, and the Nasdaq down 0.2 percent. In Japan, the Nikkei 225 gained 0.9 percent to 50,716.35. Fast Retailing, operator of Uniqlo, rose 0.7 percent to 57,630 yen ($375), while SoftBank advanced 2 percent to 22,130 yen. Auto stocks retreated, with Toyota down 0.8 percent to 3,094 yen and Honda sliding 4.8 percent to 1,509 yen. China’s Shanghai Composite edged up 0.2 percent to 4,005.57, while Hong Kong’s Hang Seng Index rose 0.6 percent to 26,395.23. 2025-11-10 11:35:52

HOT STOCK: Innotech rockets to the ceiling on KOSDAQ debut on chip-related hype SEOUL, November 07 (AJP) - Innotech, a South Korean maker of environmental test equipment, quadrupled on its KOSDAQ debut Friday, underscoring the frenzied appetite for anything tied to chipmaking. The shares opened at 50,300 won — 242 percent above the initial public offering (IPO) price of 14,700 won — and immediately hit the daily permissible ceiling of 58,800 won ($40). The stock stayed locked at the upper limit throughout the session despite a sweeping rout that dragged both the KOSPI and KOSDAQ down around 2 percent. KB Securities was the sole underwriter. Founded in 2013, Innotech specializes in reliability and environmental testing systems that simulate extreme conditions — from minus 70 to plus 250 degrees Celsius — to verify durability against heat, humidity, and vibration. Such systems are essential across semiconductor, battery, display, and automotive manufacturing, where production stability and quality assurance hinge on precision testing. By developing proprietary technologies and offering integrated services from design and manufacturing to maintenance, the company has reduced reliance on imported equipment. This strategy helped Innotech secure major clients including Samsung Display, Samsung Electronics’ Mobile Division, and Samsung SDI between 2019 and 2023. The firm has also expanded overseas with a Vietnam subsidiary and around $5 million in exports. Financial performance has strengthened steadily. Revenue rose from 6.4 billion won in 2021 to 16.7 billion won ($11.46 million) last year, representing a compound annual growth rate of 27.1 percent over four years. Investor demand for the IPO was overwhelming. Institutional book-building drew a subscription ratio of 1,072 to 1, pushing the pricing to the top of the indicative range. Retail demand was even stronger, with 410,000 bids, a competitive ratio of 2,427 to 1, and deposits swelling to 7.85 trillion won. A KB Securities official said Innotech’s growth prospects in displays, semiconductors, and secondary batteries “drew strong interest from both institutional and individual investors.” Innotech plans to use the proceeds to develop next-generation testing systems for semiconductors and batteries, expand R&D, and strengthen its global customer network. CEO Jang Seok-jun said the firm aims to become “a leading global provider of complex reliability and environmental testing equipment through continued technological innovation.” 2025-11-07 16:25:34

Asian markets fall, KRW breaches crisis-linked 1,450 per USD SEOUL, November 07 (AJP) - Asian shares fell sharply in early Friday trading as investors reacted to overnight losses on Wall Street, sending South Korea’s benchmark indices below key thresholds and pushing the Korean won past a psychologically critical level historically associated with periods of upheavals. The won weakened rapidly in morning trade, with the dollar rising to 1,454.8 won as of 10:20 a.m. in Seoul. The breaches of the 1,450 level have typically coincided with extraordinary events — including the presidential impeachment in April, the martial law crisis in December, and stress periods following the 2009 global financial crisis. The currency’s slide came alongside a broad selloff in equities. The KOSPI dropped 2 percent, falling back below the 4,000 mark, while the KOSDAQ slipped under 900, reflecting deteriorating sentiment across risk assets. The downturn followed steep losses in the United States, where all three major indices declined on Thursday. The Dow Jones Industrial Average fell 0.8 percent, the S&P 500 dropped 1.12 percent, and the Nasdaq Composite tumbled 1.9 percent to 23,053.99, weighed down by a pullback in semiconductor and AI-linked names. Nvidia lost 3.7 percent, AMD slumped 7.3 percent and Palantir shed 6.8 percent. Qualcomm retreated 3.6 percent despite reporting stronger-than-expected earnings, amid speculation that Apple could reduce future chip orders. Investor nerves were further rattled after David Sacks, the White House’s AI policy chief and colloquially known as the administration’s “AI czar,” posted on X that there would be “no federal bailout for AI.” His comment fueled worries that the sector may not receive government support if market volatility deepens. Adding to the unease, new labor data pointed to rising job losses tied to restructuring across the tech sector. According to Challenger, Gray & Christmas, U.S. employers cut 153,074 positions in October, marking the largest October layoffs since 2003. So far this year, 218 technology companies have eliminated more than 112,000 jobs, including staff reductions at Intel, Microsoft and Amazon. Nearly 300,000 public-sector workers have also been laid off. Tesla, which closed down 3.5 percent at $445.91 on Thursday, rose more than 2 percent in after-hours trading after shareholders approved CEO Elon Musk’s long-debated compensation package. The plan could award Musk stock options worth up to $1 trillion if Tesla meets a set of market-value and operational milestones totaling $8.5 trillion. Still, the relief did not extend to Korean battery suppliers with exposure to Tesla. Samsung SDI slid 4.2 percent to 308,500 won, Ecopro dropped 2.9 percent, Ecopro BM declined 3.3 percent and LG Energy Solution shed 1.3 percent. Analysts said lingering fears over an AI-driven bubble overshadowed any optimism from Tesla’s governance developments. Markets elsewhere in Asia also retreated. Japan’s Nikkei 225 fell 1.5 percent to 50,117.88, with Toyota down 0.9 percent and Sony 1.6 percent lower. AI- and chip-equipment names bore the heaviest losses, with Advantest tumbling 5.9 percent and SoftBank dropping 7.9 percent. SoftBank briefly plunged more than 8 percent in morning trade, erasing most of Thursday’s rebound after a volatile week in which shares fell 10 percent on Wednesday, rose 3 percent Thursday and then reversed sharply again. In Greater China, the Shanghai Composite Index slipped 0.2 percent to 4,000.62, while Hong Kong’s Hang Seng Index declined 0.7 percent to 26,314.37, extending weakness from the previous session. 2025-11-07 11:33:26